A benchmark index for Indian equities on Friday fell sharply in early trade and was ruling close to 300 points lower within minutes of opening bell.
The 30-scrip sensitive index (Sensex) of the BSE, which opened at 16,258.44 points, was ruling at 16,196.18 points, minutes into trade, 292.06 points or 1.77 per cent down from its previous close at 16,488.24 points.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading lower at 4,855.9 points, down 1.78 per cent or 87.75 points from its previous close.
Broader markets also fell with the BSE 500 index ruling 1.5 per cent lower. The BSE midcap index slipped 0.86 per cent while the BSE small cap index was trading 0.35 per cent down.